A History of the United States in Five Crashes Audiobook By Scott Nations cover art

A History of the United States in Five Crashes

Stock Market Meltdowns That Defined a Nation

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A History of the United States in Five Crashes

By: Scott Nations
Narrated by: Christopher Grove
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About this listen

In this absorbing, smart, and accessible blend of economic and cultural history in the vein of the works of Michael Lewis and Andrew Ross Sorkin, a financial executive and CNBC contributor examines the five most significant stock market crashes in the United States over the past century, revealing how they have defined the nation today.

The Panic of 1907; Black Tuesday (1929); Black Monday (1987); the Great Recession (2008); the Flash Crash (2010): Each of these financial implosions that caused a catastrophic drop in the American stock market is a remarkable story in its own right. But taken together, they offer a unique financial history of the American century. In A History of the United States in Five Crashes, financial executive and CNBC contributor Scott Nations examines these precipitous dips, revealing how each played a role in America's political and cultural fabric, one building upon the next to create the nation we know today.

Scott Nations identifies the factors behind the disastrous runs on banks that led to the Panic of 1907, the first great scare of the 20th century. He explains why 1920s America adopted investment trusts - a practice that helped post-World War I Britain - and how they were a primary catalyst of the 1929 crash. He explores America's love affair with an expanding stock market in the 1980s - which spawned the birth of portfolio insurance that significantly contributed to the 1987 crash. And he examines the factors that led to the 2008 global meltdown and the rise of algorithmic trading, the modern financial technology that sparked the 2010 Flash Crash when American stocks lost a trillion dollars in minutes.

A History of the United States in Five Crashes clearly and compellingly illustrates the connections between these financial collapses and examines the solid, clear-cut lessons they offer for preventing the next one.

©2017 Scott Nations (P)2017 HarperCollins Publishers
Economic History Stocks United States Global Financial Crisis American History Great Recession Stock Market Financial Crisis Stock Market History
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What listeners say about A History of the United States in Five Crashes

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Wow. I need to listen @ 3 times.

A very interesting and frightnening book, making my stomach turn repeatedly while reading it and at present given my losses over the past week. One thing is certain, human hubris knows no limits and the stock market is the one place outide of religion where people should FEAR expertise while the rest of functioning society should and needs to rely upon it. It is not just that there is no such thing as a sure thing, but that this is often obviously the case. It is just that people . . supposedly smart people, close their eyes to the obvious so that they can make their killing and get out before the probabilities catch up to them. This book exposes a system that while it .y be in theory, the greatest engine for growth (through the capital it attracts that can be used to expand business) it is far dirtier, sloppier and criminal than can possibly be understood from a brief look at the headlines. I hope this idiotic trade war will not be remembered as the catalyst of hubris and stupidity that sets off the next crash. Ugh. The only downside (or upside?) is that this exposed how little I truly know about the modern market, fiscal or monetary policy or just about anything else. Time to go study.

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6 people found this helpful

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great if you like LOTS of numbers

most people will enjoy it more in written form, with (I imagine) graphs to help follow events (ups and downs of indices, stock quotes, volumes, etc). I'm a bit weird that way: a table of numbers (spoken or written, ok either way) works better for me than a graph which I'd have to mentally deconstruct back to numbers! so I quite enjoyed this as an audiobook.

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Good Book.

Although I did not agree with some of the conclusions, the book is very well written, easy to listen and follow, and the history is on the dot.

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Interesting

This is a neat story, but the numbers get a little onerous. I feel like I understand better what happened in 2008 and 2010, but again the numbers made me crazy — thankfully, I was listening while I rode my road bike so I could phase out a little during some of the more technical stuff.
Still very good and well read.

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Great Detail

Maybe too much detail for some, but I found it extremely interesting. The descriptions and lead up to the last 3 crashes were especially good, but that may be because they were more recent and relatable. Highly recommend.

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A great lesson in history and finance

A great historical explanation of what really happened in the crashes. I also learned what credit default swaps and leveraged buyouts actually mean. Not too technical on the financial but enough to understand these financial products and what went wrong. The history aspect of the early crashes was informative.

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Everyone Should Read

Enjoyable read and helpful for understanding market crashes. If you are interested in the market you will enjoy this book

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great book

one of the best books in finance the talks about the crash and it should be at the book taught in every Finance class

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Great listen

This is a fascinating and easy to follow book! It's broken into very digestible parts and gives a great overview of five historic moments in America's economy.

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Excellent

Very Informative and insightful!!!! You will learn about causes, effects and predictions. I highly recommend this book.

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